16. BPCL
Never seen such volatility in Crude with such wild swings in price on both sides. Hence due to this we can see further price swings in all OMCs.
Further , Long position should be considered if BPCL is sustaining above 326.35 on 5mins as well as hourly charts for the target of 333.45 followed by 345.75 and 358.15.
Taking short position is advised to consider if price sustaining below 306.65 on 5min and 301.5 hourly charts for the target of 296.35 followed by 292.85, 288.75 and 283.95.
Further, aggressive and very very risky long position can be taken at CMP (320) for the target of 326.65 followed by 336.25 in BPCL with obvious comfort SL of 312.65.
p.s. –. Trading in current markets is very risky due to uncertainity and volatility in the market but will trade as per my given levels only. Please trade as per your comfort and risk. These levels have derived by analyzing Options data and spot price movement.